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Norway's Statoil attributes production gains to the United States

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Norwegian energy major Statoil said its average equity production for the first quarter was up 6 percent year-on-year, driven mostly by its U.S. work.

The company reported net operating income of $5 billion, up from the $4.3 billion during the first quarter of 2017, but below analyst's expectations. Earnings after tax were $1.5 billion, up about 35 percent from the same period last year.

Statoil said Wednesday its equity production increased 1.5 percent from last year, led primarily by higher production in the United States.

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